Disposal
June 04 2003 - 2:03AM
UK Regulatory
RNS Number:8955L
Regent Inns PLC
04 June 2003
Wednesday 4th June 2003
PRESS RELEASE
Regent Inns plc
Receivership of Porter Black Holdings Limited
Regent Inns plc ("Regent") has received notification from Porter Black Holdings
Limited ("Porter Black") that it has been placed in receivership by its bankers.
Porter Black is a company which exchanged contracts with Regent on 29 October
2002 to acquire 17 unbranded pubs (14 leasehold and 3 freehold) from Regent for
#4.27 million in cash.
The disposal of the 17 pubs has not yet completed, and Regent has yet to receive
any monies under the acquisition agreement. Regent has commenced discussions
with the receiver on Regent's contractual position regarding the properties and
related costs, including whether or not the sale will complete.
A further announcement will be made in due course.
- Ends -
For further information contact:
Regent Inns plc 020 8375 3000
Stephen Haupt
Simon Rowe (m) 07867 785989
Merlin Financial 020 7606 1244
Paul Downes 07900 244 888
This information is provided by RNS
The company news service from the London Stock Exchange
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